Kimco Realty buys two Louisville shopping centers for $295 million

Bitget2026/11/03 16:35

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Kimco Realty acquired Paddock Shops and Shelbyville Road Plaza in Louisville for a combined $295 million.
The grocery-anchored centers total 741,000 square feet, with a blended going-in capitalization rate in the low-6% range.
Funding comes from $391 million of 2026 property dispositions at roughly 5% capitalization rates, rather than new borrowing.
The acquisitions offer a capitalization-rate spread exceeding 100 basis points, with underwritten annual net operating income growth of approximately 4% over 10 years.
Paddock Shops is approximately 94% leased; Shelbyville Road Plaza is about 92% leased.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Kimco Realty Corporation published the original content used to generate this news brief on November 03, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Kimco Realty buys two Louisville shopping centers for $295 million

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